Glossary

A bet or wager of any kind. Also refers to the total amount of money wagered.

Regulations limiting how and where sportsbooks can promote their services.

Betting on a team to cover the point spread rather than simply win the game outright.

Mandatory processes to confirm bettors meet minimum age requirements (typically 21 in the US).

Mathematical models used by sportsbooks to set odds and manage risk.

Application Programming Interface - Technology allowing different software systems to communicate, used for odds feeds and data sharing.

A betting strategy that exploits differences in odds between sportsbooks to guarantee a profit regardless of outcome.

A form of spread betting that eliminates the draw outcome by using half-goal and quarter-goal handicaps.

Computer systems that automatically adjust betting lines based on market conditions and risk.

A loss that occurs in unexpected circumstances, often due to a last-second score or unlikely event.

The total amount of money a bettor has set aside specifically for wagering.

A person who places bets on behalf of another to conceal the true bettor's identity.

Tool allowing bettors to create custom parlays by combining multiple selections from one game.

A notification from monitoring systems when suspicious betting patterns are detected.

A platform where bettors wager against each other rather than against a bookmaker, with the exchange taking a commission.

An organized group of bettors who pool resources and information to place large coordinated wagers.

Using fingerprints, facial recognition, or other biological data for secure account access.

Illegal, unregulated betting operations that operate outside licensed frameworks.

The 1919 conspiracy where eight Chicago White Sox players intentionally lost the World Series in exchange for money from gamblers.

Sports wagering platforms built on blockchain technology, offering transparency and decentralization.

Short for sportsbook; an establishment or platform that accepts bets on sporting events.

The total implied probability of all outcomes exceeding 100%, representing the bookmaker's edge.

A 1978-79 scandal where Boston College basketball players manipulated game scores for gamblers connected to organized crime.

Another name for PASPA, the 1992 federal law that banned sports betting in most states.

When a sportsbook allows bettors to cash out a bet before the event concludes, often at reduced value.

The 2006 Italian football scandal involving match-fixing and referee manipulation that led to Juventus being stripped of titles.

Feature allowing bettors to settle wagers early for a calculated amount before events conclude.

The 1951 City College of New York basketball point-shaving scandal that implicated players from seven schools.

The favorite in a betting matchup; the team or player expected to win.

A game with reduced betting limits due to uncertain factors like injuries or weather.

The final odds offered on a bet before the event begins.

A formal agreement between a state government and tribal nation regarding gaming rights and revenue sharing.

AI technology that analyzes video feeds to extract real-time sports data for betting purposes.

A mandatory waiting period before bettors can access funds or resume betting after self-exclusion.

Any manipulation of sports events for betting-related profit, including match-fixing and bribery.

The practice of transmitting live event information faster than official broadcasts to gain a betting advantage.

When a team wins by more than the point spread (for favorites) or loses by less than the spread (for underdogs).

Real-time streams of sports data used by sportsbooks to set and adjust odds.

Agreements between sportsbooks and sports leagues for the use of official game data.

Odds format popular in Europe showing total return per unit staked (e.g., 2.50 means $2.50 return on $1 bet).

Decentralized finance protocols enabling peer-to-peer sports wagering without traditional intermediaries.

A responsible gaming tool allowing bettors to cap how much money they can add to their account.

Slang for a $1,000 bet.

Short for underdog; the team or player expected to lose.

Slang for a $100 bet.

Feature allowing bettors to settle bets before the event ends, locking in profit or minimizing loss.

Processing data closer to the source to reduce latency in live betting applications.

Sports Betting Integrity - An international organization monitoring suspicious betting activity.

A bet with 1:1 odds where you win the same amount you wagered.

A federal tax on sports wagers, currently 0.25% for legal operators and 2% for illegal operations.

Any wager other than a straight bet, including parlays, teasers, and props.

The average amount a bettor can expect to win or lose per bet if the same wager were made many times.

A wager that applies only to the first half of a game, with its own line and total.

Odds that are set at the time of the bet and do not change regardless of later market movement.

An individual who arranges the manipulation of sporting events for betting purposes.

Odds format common in UK showing profit relative to stake (e.g., 5/1 means $5 profit on $1 bet).

Bets placed on events that will be decided in the future, such as championship winners or season awards.

A state regulatory body that oversees gambling operations, licensing, and compliance.

A major sports data and integrity monitoring company partnered with numerous leagues.

Leading geolocation technology provider used by most US-regulated sportsbooks.

Technology using GPS or IP addresses to verify a bettor's location is within a legal jurisdiction.

Technology that determines a user's physical location to ensure compliance with jurisdictional betting laws.

A bet on the total combined runs, goals, or points scored in all games of a sport on a given day.

PASPA provision that allowed Nevada, Oregon, Montana, and Delaware to continue limited sports betting.

Total amount wagered minus winnings paid to bettors, the basis for most tax calculations.

A person who analyzes sporting events and creates predictions or betting advice.

The total amount of money wagered on an event or at a sportsbook over a specific period.

Former South African cricket captain banned for life in 2000 for match-fixing and accepting bribes from bookmakers.

Placing a bet on the opposite side of an existing wager to reduce risk or guarantee profit.

The percentage of money wagered that the sportsbook keeps as profit after paying out winners.

A half-point in the spread. Getting the hook means having an extra half-point in your favor.

The specific terms and conditions set by a sportsbook governing bet settlement and disputes.

A conditional wager where subsequent bets are only placed if the first bet wins.

Indian Gaming Regulatory Act (1988) - Federal law establishing the framework for tribal gaming in the United States.

Live betting that takes place after an event has started, with odds adjusting in real-time.

A proposed payment from sportsbooks to sports leagues as compensation for using their data and protecting game integrity.

Systems that track betting markets for unusual activity that may indicate match-fixing.

See Vigorish. The commission charged by sportsbooks on bets.

1950-51 Senate investigations into organized crime that exposed gambling's role in corruption.

A mathematical formula for determining optimal bet size based on perceived edge and bankroll.

Know Your Customer - Identity verification processes required by regulated sportsbooks.

The delay between an event occurring and data reaching betting platforms, crucial for live betting.

Betting on the favorite, who must win by more than the spread.

When a sportsbook places bets with other books to reduce liability on heavily wagered outcomes.

A sportsbook or gaming company that has received official authorization from a regulatory body to accept wagers.

The regulatory process by which sportsbook operators obtain permission to offer betting services.

The maximum amount a sportsbook will accept on a particular bet.

The odds or point spread on a game set by oddsmakers.

Changes in odds or point spreads due to betting action, news, or other factors.

Wagering that occurs during an event with continuously updating odds based on game action.

A bet perceived to be a guaranteed winner (though no bet truly is).

A responsible gaming feature allowing bettors to cap their losses over a specified period.

AI systems that improve odds-setting and risk management by learning from historical data.

Agreements allowing online operators to access states through partnerships with land-based casinos.

A betting system where stake is doubled after each loss, attempting to recover losses with one win.

The manipulation of a sporting event's outcome, typically for gambling profit.

Software architecture allowing sportsbook platforms to scale individual components independently.

Betting both sides of a game at different spreads, creating a chance to win both bets if the final score lands between them.

Placing wagers through smartphone apps or mobile-optimized websites.

Template bills proposed for states considering sports betting legalization.

A bet on which team will win outright, without a point spread. Odds indicate payout amounts.

The 2018 Supreme Court case that struck down PASPA, allowing states to legalize sports betting.

Organization advocating for programs and policies to assist those with gambling disorders.

Slang for a $500 bet.

A bet that is canceled and stakes returned, often due to game postponement or rule violations.

The probability of an outcome expressed as a ratio, determining potential payouts.

The person or system responsible for setting betting lines and prices.

Real-time data streams providing current betting lines from sportsbooks or data providers.

Comparing odds across multiple sportsbooks to find the best available price.

A game that sportsbooks are not accepting bets on, usually due to uncertain circumstances.

Real-time game statistics provided directly by sports leagues, sometimes mandated by law.

A sportsbook operating outside US jurisdiction, often in Caribbean nations, accepting bets from American customers.

The first odds posted on an event before any betting action occurs.

In blockchain betting, a trusted data source that provides event outcomes to smart contracts.

A bet on the overall winner of a tournament or season-long competition.

A bet on whether the total combined score will be higher or lower than a set number. Also called the Total.

Player Account Management - Systems handling user registration, wallets, and betting history.

A betting system where all bets are pooled and payouts calculated after the event, common in horse racing.

A single bet combining multiple wagers where all selections must win for the bet to pay out.

Professional and Amateur Sports Protection Act (1992) - Federal law that prohibited sports betting in most states until overturned in 2018.

MLB's all-time hits leader who was permanently banned from baseball in 1989 for betting on games while managing the Cincinnati Reds.

A game with no point spread where bettors simply pick the winner.

Companies that supply the technology infrastructure for online sportsbooks.

The opposite of a teaser; a parlay where the bettor moves lines against their favor for higher payouts.

The illegal practice of manipulating a game's score to affect the point spread outcome.

The margin of victory set by oddsmakers to level the betting field between favorites and underdogs.

Numerical values assigned to teams representing their relative strength for handicapping purposes.

Gambling behavior that causes harm to the individual, their family, or community.

Individuals banned from betting, including athletes, coaches, referees, and team officials.

A proposition bet on specific occurrences within a game, not directly tied to the final outcome.

A wager on a specific occurrence within a game not directly tied to the final outcome.

Betting action from recreational bettors, often contrasted with sharp or professional money.

A tie against the spread where bets are refunded.

Betting lines that update instantly based on game action, used for in-play wagering.

A responsible gaming feature that alerts bettors about time spent or money wagered.

Sportsbooks offering lower vigorish than the standard -110, typically -105 or -108.

Government agency responsible for overseeing and enforcing gambling laws.

The system of laws, rules, and oversight governing legal sports betting in a jurisdiction.

Programs and policies designed to prevent problem gambling and protect vulnerable individuals.

Percentage of sports betting revenue that states collect as tax from operators.

When the betting line moves opposite to the direction of public betting percentages, indicating sharp action.

Systems and strategies sportsbooks use to balance their liability and ensure profitability.

A series of parlays created from a larger group of selections, covering multiple combinations.

Baseball's version of the point spread, typically set at 1.5 runs.

A parlay combining multiple bets from the same game, with correlated odds adjustments.

Exploiting line differences between sportsbooks to guarantee small profits regardless of outcome.

A voluntary program allowing individuals to ban themselves from gambling establishments or platforms.

A professional or highly skilled bettor known for long-term profitability.

Self-executing code on blockchain that automatically settles bets when conditions are met.

A leading global sports data and integrity services company.

The gross amount retained by sportsbooks after paying out winning bets, before expenses and taxes.

The legal term for placing bets on the outcome of sporting events.

The complete technology stack powering an online betting operation.

Manipulating specific moments within a game rather than the overall result.

The number of points by which a favorite is expected to win, used to level the betting field.

A recreational or casual bettor, as opposed to a sharp.

Rapid, significant line movement caused by heavy betting action.

Sudden, significant line movement caused by heavy betting from sharp bettors or syndicates.

A single wager on one game or event, as opposed to a parlay.

A wager with poor expected value that primarily benefits the sportsbook.

Unusual wagering activity that may indicate insider knowledge or attempted manipulation.

A group of professional bettors who combine resources to place large, coordinated wagers.

Betting on the underdog with the point spread advantage.

The percentage of sports betting revenue that operators must pay to state or local governments.

A parlay that allows bettors to adjust point spreads in their favor in exchange for lower payouts.

Constitutional basis for the Murphy v. NCAA decision, affirming states' rights to regulate gambling.

A betting slip or record of a wager.

Former NBA referee who pleaded guilty in 2007 to betting on games he officiated and providing inside information to gamblers.

Figure skater involved in the 1994 attack on Nancy Kerrigan, a scandal that attracted massive betting interest.

The combined score of both teams, used for over/under betting.

Someone who sells betting picks or predictions, often with dubious track records.

The core system that manages odds, limits, and liability for a sportsbook.

Gambling operations conducted on Native American reservations under federal and tribal law.

Security measure requiring two verification methods to access betting accounts.

Unlawful Internet Gambling Enforcement Act (2006) - Federal law prohibiting financial transactions for illegal online gambling.

The team or player expected to lose, typically offering higher odds.

A standardized betting amount used to measure and compare wagering performance.

When odds offered are better than the true probability of an outcome, creating a profitable opportunity.

The commission or fee charged by sportsbooks on bets, typically 10% on standard wagers.

A program allowing individuals to ban themselves from gambling establishments.

Virtual Private Network - Technology sometimes used to circumvent geo-restrictions on betting sites.

Any bet placed on the outcome of an event.

Restrictions on bet amounts that operators must enforce for responsible gaming.

A ready-made sportsbook platform that can be rebranded and operated by different companies.

Federal Wire Act (1961) - Law prohibiting the use of wire communications for interstate sports betting.

A professional sports bettor known for long-term success and respected opinions.